Take-Profit Order
A standing order to sell once price rises to a target, locking in gains automatically.
The mirror of a stop-loss. You buy at $100, set a take-profit at $130, and if the market reaches it the order sells and books your gain. It removes the temptation to hold for "just a bit more" and then watch the move reverse.
Traders often pair it with a stop-loss so both the upside exit and the downside exit are set in advance.
Related terms
A standing instruction to sell once price falls to a set level, capping how much you lose.
OCO OrderA pair of linked orders where filling one of them automatically cancels the other immediately.
Limit OrderAn order to buy or sell only at a chosen price or better, which may not fill at all.
Stop-Limit OrderA stop order that, once triggered, places a limit order instead of selling at market.